Rio De Janeiro Government Gives Hindsight Into Privatization Process Of Maracanã Stadium

The Rio de Janeiro government "has divulged the first details" regarding the privatization process of the Maracanã stadium, according to Vinicius Konchinski of UOL.com.br. The administration of the stadium "will be passed on" to a private initiative in the upcoming year, before the inauguration of the arena, which is scheduled for February. As part of the concession, the Rio state government will receive "close to" R$7M ($3.5M) annually. In addition to this sum, the company that wins the management rights to the Maracanã "will have to invest close to R$469M ($231.5M)." This amount will assure that the stadium will not need to endure more construction. The state government also revealed that the contract signed will be for a 35-year lease and that no one club will be able to bid on the arena. However, clubs are free to partner with another company interested in the stadium as long as this partnership "will not give the team exclusive rights to the Maracanã." Rio de Janeiro state government Chief of Staff Regis Fitchner said, "We do not want the Maracanã belonging to club A or club B. It makes no sense that a club has exclusive rights to a stadium that is considered the temple of football" (UOL.com.br, 10/22).